The Connected Automotive Market Was Valued At USD 78.04 Billion In 2022, And It Is Expected To Reach USD 305.45 Billion By 2030, Registering A CAGR Of About 19% In Terms Of Revenue During The Forecast Period 2022-2030
In recent years, the connected car market has grown a lot. This is because technology has gotten better and more people want better driving experiences. Connected vehicles, also called "smart cars," have a number of connecting features and advanced technologies that make it easy for the car, the infrastructure, and other devices to talk to each other.
The addition of connection to cars has changed how we use them and how the transportation system works as a whole. By using the power of the Internet of Things (IoT), connected cars offer a wide range of benefits, such as better safety, more convenience, better navigation, and more efficient vehicle management. Connectivity in cars makes it possible for cars and other cars, traffic control systems, and cloud-based platforms to talk to each other and share information in real time. This connectivity makes it easier for important information, like traffic conditions, road hazards, and weather reports, to be shared. This can make drivers much safer and help them make decisions in advance.
In the market for linked cars, telematics systems are very important. These systems mix information technology and telecommunications to offer a wide range of services and features. Telematics lets you do things like use GPS navigation, track your vehicle, get help in an emergency, do remote repairs, and keep an eye on how your vehicle is doing. These features not only make driving more enjoyable, but they also make it easier to handle a fleet and keep vehicles in good shape. Advanced driver-assistance systems (ADAS) have also become a part of the market for connected cars. Connectivity and sensor systems are used by ADAS technologies to provide features like adaptive cruise control, lane-keeping assistance, collision prevention, and automatic parking. These tools help drivers in different ways, making driving safer and easier.
Also, adding connectivity to cars opens up new opportunities for making and delivering services with extra value. Connected cars can work smoothly with personal devices and smart home systems, letting you do things like control your car from afar, automate your home from your car, and get personalised entertainment. Also, connectivity lets software be updated over-the-air, so manufacturers can keep improving and upgrading car features without having to physically recall them.
The market for connected automotive solutions is growing quickly. This is because more and more people want advanced features, more and more people care about driving safety, and the government is passing laws that encourage connected vehicle technologies. Automotive companies, internet companies, and telecommunications companies are working together to come up with new ideas and get more people to buy connected cars.
Trends: Internet of Things (IoT) Integration
When Internet of Things (IoT) technology was brought into the automotive business, it caused big changes. Connected cars are full of sensors and other devices that let them gather, send, and interact with data from different sources. These sources include other cars, buildings, and the world around you.
One of the best things about integrating IoT is that you can do online diagnostics. Connected cars can always check on their own performance and health and collect data about it. This information can be sent to manufacturers or service providers, so they can remotely diagnose problems, find possible problems, and do maintenance before they happen. This not only makes it easier for people to take care of their cars, but also lets them do it in a fast and effective way, which reduces the chance of breakdowns and makes the cars more reliable overall.
Over-the-air updates are another important thing that IoT connectivity makes possible. Software updates and patches can be sent to connected cars remotely, so they don't have to go to service centres. This lets manufacturers fix bugs, improve functionality, and even add new features online. This makes sure that cars always have the most recent software updates. Over-the-air updates also give manufacturers a chance to fix possible security holes and make connected cars safer overall. IoT integration in linked cars also makes it possible for cars to talk to each other and to infrastructure. Through V2V contact, cars can talk to each other in real time about things like speed, location, and direction. This makes it possible to add more safety features like collision alerts, adaptive cruise control, and help at intersections. V2I connection, on the other hand, lets cars talk to things like traffic lights, toll booths, and parking systems in their surroundings. This makes it possible to add features like optimised routing, real-time traffic reports, and seamless integration with smart city infrastructure.
IoT integration also makes it possible for the automotive business to offer a wide range of connected services. Connected cars can have features like real-time guidance with traffic information, streaming entertainment, remote vehicle control (for example, locking and unlocking the doors or starting and stopping the engine), vehicle tracking, and help in an emergency. These services are meant to make driving more enjoyable generally, make it easier, and make it safer.
Overall, IoT integration has changed the automotive industry by making it possible for connected cars to collect and send data, talk to other cars and infrastructure, and offer a variety of linked services. This connectivity has led to improvements in remote diagnostics, over-the-air updates, vehicle-to-vehicle and vehicle-to-infrastructure (V2V and V2I) contact, and other connected services that make driving safer, easier, and more efficient for vehicle owners and their passengers.
Advanced Driver Assistance Systems (ADAS)
Advanced Driver Assistance Systems (ADAS) are an important part of connected cars. They offer a variety of technologies and features that make driving safer and more enjoyable. ADAS uses sensors, cameras, and other high-tech tools to keep an eye on the car's surroundings, spot possible dangers, and help the driver with different driving tasks.
Adaptive cruise control (ACC) is one of the most important ADAS technologies. It uses sensors to keep a safe gap between your car and the car in front of you. ACC instantly changes the speed of the car to match the speed of the car in front of it. This means the driver doesn't have to change the speed of the car all the time. This technology makes driving safer by preventing rear-end accidents and making it easier for drivers to stay awake on long trips.
Lane departure warning (LDW) systems use cameras or sensors to watch the lines on the road that show where each lane begins and ends. If the car starts to drift out of its lane without a turn signal, the system warns the driver by making a sound, flashing a light, or giving the driver a feeling. LDW systems help keep drivers from leaving their lanes by accident, which can happen when they are distracted, tired, or for other reasons.
Automatic emergency braking (AEB) is meant to reduce or prevent crashes by applying the brakes automatically when a crash is about to happen. AEB systems watch the road ahead with radar or cameras to see if there are any possible hazards, like other cars or people. If the driver doesn't react to the warning, the system can put the brakes on by itself to stop a crash or make it less severe. AEB makes driving much safer by adding an extra layer of protection in dangerous scenarios.
ADAS technologies also include things like blind-spot detection, which uses sensors to watch the vehicle's blind spots and warn the driver if there is a car in the next lane. This helps keep cars from colliding when they change lanes. Also, parking assist systems use sensors and cameras to help the driver park safely. These systems give the driver visual or audible cues to help them move the car into a parking spot safely.
The improvements in ADAS technologies are making it possible for cars to drive themselves. ADAS systems are the source of many of the core technologies and functions in autonomous cars. As cars get more connected to the internet and get more high-tech sensors and algorithms, they can take over more driving chores and become more autonomous.
Overall, ADAS technologies are very important for improving safety, making driving more enjoyable, and setting the groundwork for self-driving cars. These technologies use sensors, cameras, and sophisticated formulas to help drivers do things like keep a safe distance, stay in their lanes, avoid accidents, and park more easily. ADAS systems are always getting better, thanks to improvements in connectivity, sensors, and artificial intelligence. This helps to make cars safer and moving more efficient.
Drivers: Infotainment and Connected Services
Connectivity in vehicles has greatly improved infotainment and connected services in the auto business. This integration makes it possible for drivers and customers to use and enjoy a wide range of features and services. One of the most important benefits is having access to information and services on the internet. People who ride in connected cars can use different online services to stream music, podcasts, audiobooks, and other types of media. Passengers can stay entertained on their trips by viewing a huge library of digital entertainment and getting personalised content.
Integration of smartphones is also an important part of entertainment and connected services. By connecting their phones to the car's entertainment system, drivers can safely access their contacts, make calls without using their hands, send text messages, and use popular apps. This connection makes it possible for the driver and passengers' digital experiences on their own devices to flow smoothly into the vehicle's interface.
Voice-activated assistants have also become an important part of infotainment systems in linked cars. Drivers can use voice orders to do things like make phone calls, change music tracks, change the temperature, and even use navigation services. This hands-free contact makes driving safer and more convenient because it lets drivers keep their attention on the road while still using important features.
Connected services offer more than just entertainment and ease. They also offer useful features for both drivers and owners of vehicles. Users can use a smartphone app for remote vehicle control to lock or open their cars, start the engine, or change the temperature settings. This function gives users ease of use and peace of mind, especially when they need to get to their cars from a distance.
Remote diagnostics is another connected tool that lets you check on the health and performance of the car in real time. It can let you know about possible problems, upkeep needs, or software updates that need to be installed. This method to vehicle maintenance helps improve performance, cut down on breakdowns, and make the vehicle more reliable overall.
Tracking vehicles is another important connected service that can help with safety, security, and transportation. Using GPS technology, car owners can track where and how their cars are moving in real time. This feature is especially helpful for managing a fleet of cars, finding a stolen car, and making sure the safety of loved ones, like young drivers or older family members.
Through features like emergency call systems (eCall), cars that are linked to the internet can help in an emergency. In the event of an accident or other emergency, these systems immediately contact emergency services and send the vehicle's location to them. This speeds up response times and could save lives.
Overall, infotainment and linked services in connected cars make driving more fun by making it easy to use digital content, smartphone features, voice control, and helpful features like remote vehicle control, diagnostics, tracking, and emergency help. These services not only give users more value and make their lives easier, but they also help make vehicles safer, more secure, and easier to handle.
Data-Driven Insights and Analytics
Connected vehicles create a lot of information about driving, vehicle operation, and how people use their cars. When this data is properly analysed and used, it can give valuable insights and help the automotive business make decisions based on data. The data from connected vehicles can be used by original equipment manufacturers (OEMs) to improve their goods and services. By looking at how people drive and what they like, OEMs can learn more about what customers want and need. This information can help with the design and development of future vehicles, so OEMs can make products that are more personalised and tailored to meet customer needs. Also, insights based on data can help improve fuel efficiency, optimise car performance, and make driving a better experience overall.
Service companies for cars can use the data that connected cars send to them to improve their maintenance and repair services. By keeping an eye on diagnostics and performance data in real time, service providers can find problems before they happen, predict when maintenance will be needed, and improve maintenance plans. This proactive method can help keep vehicles from breaking down, lower maintenance costs, and make sure they are running at their best.
Insurance companies can also use the information that connected cars collect. By looking at details about how people drive, insurers can come up with usage-based insurance models. With these models, insurance premiums can be based on how a person drives instead of on a general risk estimate. Safer drivers can get lower rates, which will encourage them to drive safely and make the insurance system more fair. Also, the data can help insurers make more accurate risk assessments, find false claims, and improve the way they handle claims.
The transportation ecosystem as a whole is also affected by data-driven observations and analytics. City planners and people in charge of transportation can use data from connected cars to learn about traffic patterns, places where there is a lot of congestion, and what kind of transportation infrastructure is needed. This knowledge can be used to improve the way transportation networks are designed and optimised, leading to better traffic flow, less congestion, and better use of infrastructure resources.
In short, the data that is generated by connected vehicles gives OEMs, automotive service providers, insurance companies, and other interested parties a lot of chances to get useful insights and analytics. These insights can be used to improve goods and services, make them more personal, make them use less fuel, improve maintenance schedules, and make it possible for new business models to be used. The use of data-driven methods helps the car industry grow and creates a more efficient, personalised, and environmentally friendly transportation ecosystem.
Restraints: Cost and Complexity
Adding connectivity technologies like embedded modems, sensors, and communication protocols makes cars more expensive overall. These technologies need more hardware parts, software creation, and integration work, which can add to the cost of making things. The general cost of connected vehicles is also affected by the costs of making sure connectivity, data transmission, and cloud services work well. Some people may not buy connected cars because they are more expensive, especially if they think the extra features are useless or not worth the price.
Connecting different systems and technologies in a car so that they work together smoothly is a difficult process. To make sure it works well and is compatible, it needs study, development, and testing. There are many parts to the integration, such as hardware, software, transmission protocols, sensors, and systems for managing data. Coordinating these parts and making sure they work together can be hard because they may come from different makers or need to be built from scratch. Integration of these systems is hard, so it takes longer, costs more, and makes production more complicated for automakers.
Also, technology and connectivity standards are changing quickly, which adds to the confusion. Manufacturers need to keep up with the latest innovations, standards, and protocols. This means that they have to keep doing research and development. Because technology changes so quickly, it can be hard to keep connected car systems up to date, which could cause compatibility problems and the need for frequent updates or upgrades.
To deal with the problems of cost and complexity in the connected car market, there needs to be a balance between adding new features and keeping cars affordable for users. As the market continues to grow and products become more standard, economies of scale and more competition can help drive down costs. Also, improvements in modular designs, standardised interfaces, and plug-and-play solutions can make it easier to integrate systems, which reduces development time and complexity. For the industry as a whole, including automakers, technology providers, and regulatory bodies, to solve these problems and get more people to use connected cars, they must work together.
Regulatory and Legal Challenges
The market for connected cars faces a number of regulatory and legal problems that can have a big effect on its growth and development. Governments and regulatory bodies all over the world are working hard to create frameworks and guidelines to address concerns about data privacy, cybersecurity, and liability issues in the context of connected cars.
As vehicles become more connected and create more data, it becomes more important than ever to protect the safety of personal information and sensitive data. Governments are passing or strengthening data security laws to make sure that collecting, storing, and sending personal information is done in a safe and clear way. Automakers and service providers must follow these rules, put in place strong data security measures, and get users' permission before using their data.
Vehicles that are connected to the internet can be hacked or attacked by cyber dangers. More and more, governments and regulatory bodies are putting their attention on setting cybersecurity standards and rules for the automotive business. These standards require makers to use strong security measures, such as encryption, secure communication protocols, intrusion detection systems, and regular software updates. To protect car systems from cyberattacks and protect the safety and privacy of vehicle occupants, it is important to follow these rules.
Vehicles are becoming more connected and automated, which makes liability problems more complicated. When crashes or problems happen, it can be hard to figure out who is at fault and who is liable. Regulatory groups are making rules and structures to figure out who is responsible for what. This includes manufacturers, service providers, and drivers. Clear rules about who is responsible for what help clear things up and make sure that the right people are held accountable for any problems or damage caused by connected cars.
Automotive makers and service providers can find it hard to keep up with the constantly changing rules and regulations. Compliance takes a lot of time and money to understand and follow the rules, do audits, and make sure that the rules are still being followed even when they change. There may be different rules in each country, which makes things even harder for foreign companies that want to sell their products in more than one market. If these rules aren't followed, there could be penalties, fines, or even a ban on selling cars that don't follow the rules. This would slow the growth of the market.
To deal with regulatory and legal issues, the business must work together. Harmonised standards, rules, and frameworks need to be made by automakers, tech providers, and regulatory bodies working together. In the market for connected cars, clear and consistent rules help create a level playing field and build buyer trust. Also, industry stakeholders and regulatory groups talk and work together on a regular basis, which helps them come up with effective and balanced rules that address concerns while supporting innovation and market growth.
Opportunities: Mobility-as-a-Service (MaaS) is a concept that seeks to alter how individuals receive and utilize transportation services
Mobility-as-a-Service (MaaS) is an idea that aims to change how people receive and use transport services. It means putting together different ways to get around, like ride-sharing, car-sharing, public transit, biking, and walking, into a single site or service so that users can move around easily and smoothly.
Connected cars are a big part of what makes it possible for MaaS platforms to grow. By using the data and connectivity features of connected cars, MaaS companies can give their users better services and features.
Technology platforms, Companies can build technology platforms that serve as the basis for MaaS systems. Most of the time, these platforms are mobile apps or web tools that let users plan, book, and pay for their transportation needs across different modes. The systems bring together data from different service providers and allow for real-time updates on things like traffic, prices, and availability.
Fleet Management Solutions, MaaS providers often use fleet management solutions to make sure that cars in their network are being used and assigned in the best way possible. Connected vehicle technology makes it easy to keep track of vehicles, check on them from a distance, and handle their upkeep. Companies can make fleet management systems that help MaaS providers run their car fleets well and make sure their transportation service runs smoothly and reliably.
Partnerships with Transportation Service Providers, For MaaS systems to work well, they need to work with transportation service providers like ride-sharing companies, car rental companies, and public transit companies. By working with these providers, companies can increase the number of people they serve, offer more types of transportation, and make the whole user experience better. Integration with public transit systems, for example, lets users get real-time transit information, plan trips that use more than one way of transportation, and switch between modes of transportation without any problems.
User Experience and Customization, Connected cars allow MaaS experiences that are customised to each person's tastes and needs. By using data from vehicles, MaaS platforms can give users personalised suggestions, better routes, and more focused ads. Voice assistants, better user interfaces, and in-car entertainment systems can all make the user experience and ease even better.
Payment and Billing Integration, One of the most important things that MaaS systems do is make the payment process easier. Users can pay for different kinds of transport services with a single account or payment method when their cars are connected to the internet. This makes things easier for users and makes them more likely to use MaaS options.
Data analytics and insights, The data created by connected vehicles in the MaaS ecosystem can give service providers and city planners useful information. By looking at transportation patterns, traffic flows, and user behaviour, companies can improve their service offers, make better plans for infrastructure, and help make urban transportation more efficient and sustainable.
Insurance and Usage-Based Services
Using data from connected vehicles gives insurance companies a lot of chances to offer usage-based insurance and customised prices. By using the data gathered from connected cars, insurance companies can learn about how people drive, how their cars work, and where they are.
Usage-based insurance, When a car is connected to the internet, insurers can get accurate and real-time information about how, when, and where a car is being driven. This information can be used to make insurance models that are based on how people actually use their vehicles instead of just standard risk factors. By keeping track of things like miles, driving speed, acceleration, braking, and time of day, insurance companies can offer personalised plans that are more in line with how a person drives. Safe drivers who don't drive very often may have lower rates, while high-risk drivers may have to pay more.
Personalised Pricing Models, Connected vehicle data lets insurers make personalised pricing models that go beyond standard risk assessments. Instead of just looking at a person's age, gender, and driving history, insurers can also look at real-time data to figure out how they drive and change their rates accordingly. This method is more fair because it tailors insurance costs to each person's risk profile. This could lead to lower rates for safe drivers and a more accurate price for coverage as a whole.
Better Claims Handling, Data from connected vehicles can make it much easier to handle claims. In the event of an accident, insurers can use information like the vehicle's diagnostics, speed, and force of impact to better figure out who is at fault and whether a claim is true. This can speed up the claims process, make claims more accurate, and cut down on false claims.
Safety benefits and Feedback, With data from connected vehicles, insurers can give feedback and safety benefits to drivers who are safe on the road. Insurers can give clients feedback in real time, showing them where they can improve and encouraging them to drive safer. Insurers and policyholders can both benefit from drivers who regularly drive safely by giving them discounts, rewards, or policy benefits.
Risk Mitigation and Prevention, Data from connected vehicles can be used to reduce and avoid risks. Insurers can look at data trends to find possible risk factors and give customers advice on how to improve how they drive or fix problems with maintenance. This method helps stop accidents, lower the number of claims, and make the roads safer generally.
Data Analytics and Actuarial Insights, Connected car data gives insurers a lot of information that can be used for data analytics and actuarial insights. By looking at a lot of data, insurers can more accurately find trends, correlations, and risk factors. This lets them improve their screening practices, make their risk assessment models better, and make new insurance products that are better suited to certain types of customers.
Major Market Segments Covered
Embedded connectivity means that a car has dedicated hardware and software tools that let it connect to the internet and do other things. These cars come with built-in connection features that let them connect to the internet and use a variety of services. Most of the time, embedded connection is built into a car's infotainment system or telematics unit. It has features like access to the internet, navigation services, real-time diagnostics, and the ability to direct the car from a distance. With embedded connectivity, users can use features like connected infotainment, live traffic updates, remote car monitoring, and remote control of functions like locking and unlocking doors or starting the engine.
With tethered connectivity, external devices like smartphones or tablets are used to connect the car to the internet. In this type of connectivity, people connect their mobile devices to the vehicle's interface, which gives them access to different connected services. The internet link of the connected device is needed for tethered connectivity, and certain mobile apps or compatibility may be needed. Once connected, users can use compatible apps to do things like stream media, make calls without using their hands, get help with navigation, and access vehicle-related info.
Integrated connectivity uses both embedded and tethered technologies to make staying linked as easy as possible. Vehicles that have built-in connection use their built-in systems and work with devices from the outside to offer more features and services. For example, users can connect their smartphones to the vehicle's infotainment system. This lets them use the vehicle's larger display for navigation or media streaming while using the smartphone's internet link. Integrated connectivity allows for advanced features like remote vehicle management, over-the-air software updates, integration with smart home devices, advanced driver assistance systems (ADAS), and vehicle-to-everything (V2X) communication, in which the vehicle talks to other vehicles or infrastructure to make things safer and more efficient.
The "Other" group is for new or specialised types of connectivity that may not fit exactly into the other categories. This group can include things like 5G connectivity, which gives connected cars faster and more reliable links. It could also include vehicle-to-vehicle (V2V) communication, in which cars talk to each other to improve safety and traffic flow, and vehicle-to-infrastructure (V2I) communication, in which cars talk to roadside equipment for a variety of reasons. Also, specific connectivity options for self-driving cars, like vehicle-to-pedestrian (V2P) or vehicle-to-cloud (V2C) communication, can be put in the "Other" category. These new technologies and specialised ways to connect are always getting better, and they may have a big impact on the future of connected car systems.
Original Equipment Manufacturer (OEM) Application
In the OEM application, features for connecting to the internet are built into cars while they are being made. This means that the cars come from the factory with high-tech devices for communication and getting information. OEMs work with technology providers to make sure that these features fit in and work well with the rest of the car. With connection built in, car owners can use a wide range of features and services.
In-car infotainment, Original Equipment Manufacturers (OEMs) install multimedia systems that give passengers entertainment choices like audio and video playback, navigation systems, and the ability to connect to external devices like smartphones or media players. Telematics, When a car has a telematics system, it can send and receive information instantly. This makes it possible to offer services like online diagnostics, real-time tracking, and help in an emergency.
Vehicle diagnostics, Connectivity makes it possible to check on and analyse the performance and health of a vehicle from a distance. OEMs can collect information about a vehicle's systems, look for possible problems, and make suggestions for preventive maintenance. Connectivity is a key part of advanced driving assistance systems (ADAS) like adaptive cruise control, lane-keeping assist, collision warning systems, and automated parking. Sensors, connectivity, and the sharing of data are used by these systems to make cars safer and easier to use.
Connectivity with external devices and networks, Original Equipment Manufacturers (OEMs) build in the ability for cars to connect with external devices like smartphones or wearables. This lets features like hands-free calling, media streaming, and voice assistant integration work. Vehicles may also be able to connect to outside networks, which would let them get software changes over-the-air, use cloud-based services, and work with smart city infrastructure.
In the aftermarket application, connectivity solutions are added to cars after they have been made and sold. Most of the time, these aftermarket goods and services are offered by third-party companies. Car drivers can make their cars more connected in a number of ways, such as:
Plug-and-play connectivity modules, These modules are made to be quickly installed in a car's existing systems. They add connectivity features like Wi-Fi, smartphone integration, and access to cloud-based services. Solutions for integrating smartphones, Aftermarket solutions let car owners connect their smartphones to the vehicle's entertainment system. This lets them make calls without using their hands, stream media, find their way around, and use smartphone apps.
GPS tracking systems, Car owners can put GPS tracking systems in their cars to get location-based services, anti-theft features, and the ability to keep an eye on their cars from afar. Other aftermarket accessories, There are many aftermarket accessories, like Bluetooth connections, wireless charging pads, and device mounts, that improve the way a car connects to the outside world. These accessories make it easier to connect devices and make it easier to stay linked in the car as a whole.
The "Other" category includes applications that may not fit easily into the OEM or aftermarket segments. Here are some examples: Specialised vehicles are cars, trucks, and other vehicles that are used in certain businesses or for specific tasks. For operations, monitoring, and optimisation, fleet management solutions for commercial cars, public transportation systems, and vehicles used in industry often need to be connected.
Emerging applications, These are applications that are new or changing and aren't widely used in the car market yet. Some examples could be experimental technologies, study projects, or prototypes that try to find new ways to use connectivity in vehicles.
Telematics services collect and send information from cars by using communication technologies. Most of the time, these services include things like tracking the location of the car, remote diagnostics, maintenance reminders, fuel monitoring, and performance analytics. Telematics devices let car owners check on their vehicle's health, find out where it is, and get alerts about possible problems or maintenance needs.
Infotainment services focus on giving drivers and passengers knowledge and entertainment at the same time. Some of these services are streaming music and videos, access to the internet, real-time traffic information, navigation systems, and controls that can be triggered by voice. Infotainment systems often work with smartphones and other devices so that you can enjoy music, films, and games without any interruptions.
Safety and Security
Safety and security services are meant to make drivers and passengers safer and keep thieves and other unauthorised people from getting into the car. Some of the features of these services are emergency help, automatic collision detection and notification, remote monitoring of vehicle systems, tracking of a stolen vehicle, geofencing, and the ability to disable a stolen vehicle from a distance. Safety and security services give people peace of mind and make it possible to act quickly in a disaster.
Remote Control and Assistance
Remote control and help services let people use mobile apps or other connected devices to access and control different car functions from a distance. Users can lock and open doors, start the engine, change the temperature settings, find their car in a crowded parking lot, and even get help driving from a distance with these services. Remote control and support services make it easy and flexible for car owners to use their vehicles.
In 2017, Asia-Pacific made the most money, with more than 40% of the world market. OEMs and cell connectivity providers like Qualcomm Inc. put more money into developing countries like China and India. This was a sign of regional growth.
For example, a recent study on connected cars in China by IHS Markit found that more than 80 makers are currently working on connected cars in China at different stages of development. Also, countries like Japan have always been among the first to use new tools in all fields. So it shouldn't be a surprise that they were also among the first people to buy linked cars.
During the forecast period, North America is expected to be one of the most profitable areas. This is because consumers are becoming more aware of vehicle problems and their effects, as well as the need to maintain and improve their vehicles through software upgrades. Or, instead of replacing a real part (like the engine or gearbox), put a patch on it.
Scope Of Report:
||Value (USD Billion)
||CAGR of 19.0% from 2023 to 2030
- Original Equipment Manufacturer (OEM)
- Safety and Security
- Remote Control and Assistance
- Continental Automotive Group
- Aisin Seiki
- Hella And Others.
| Regional Scope
- North America
- The Middle East & Africa
- Latin America
|Reasons to Purchase this Report and Customization Scope
- 6-month post-sale analyst assistance.
- 10% Free Customization and 15 Company Profiles in addition to the ones specified
- Continental Automotive Group
- Aisin Seiki
- Hella And Others.
1. Continental Automotive Group
The Continental Automotive Group said that they are one of the few locally owned and run car business groups in Austin that are still run by a family. They said that they have been in business for 50 years and have a strong commitment to meeting the needs of customers in the greater Austin area.
According to the Continental Automotive Group, they started out as Continental Cars in 1964. Over the past 40 years, they have grown a lot and been very involved in their communities. They said that Austin Infiniti, Austin Subaru, First Texas Honda, and Mercedes-Benz of Austin were their car businesses. The Continental Automotive Group pointed out that their sales team is laid-back and genuinely wants to help customers find the car they want. They said that the prices at their dealerships are competitive and that anyone can get car financing, no matter what their credit score is. The Continental Automotive Group told customers that their mechanics are very skilled when it comes to car maintenance. Customers were asked to bring their cars to their service departments for maintenance and repairs, and the Continental Collision centre in Austin was mentioned as a place where auto body repairs could be done.
The Continental Automotive Group showed how much it cares about the Austin business community by talking about its past and plans for the future. They said that it is important for the company to give back to the Austin community and help out different service groups in the area. They were happy to be a part of these groups and show their support for them.
DENSO said that they are one of the biggest automotive suppliers in the world. They make technology and parts that are used in cars from Toyota, Honda, FCA, General Motors, Ford, Volvo, Mercedes-Benz, and other companies. They said that they had more than 24,000 partners in North America. These partners included engineers, researchers, craftspeople, and workers. These employees work all over the world in different offices and plants to drive innovation and improve the future of Connected Cars, Automated Drive, Shared Mobility, and Electrification.
DENSO says that their main goal is to build a mobility future that makes it easier for people and things to move around, reduces accidents, helps the environment, and makes society better. They said that their unique products and manufacturing methods were important parts of reaching this goal.
DENSO said that the skills and hard work of its employees are what make the business successful. They said that they were committed to creating a culture where the different talents, skills, and points of view of every employee help people and the world. They said that whether one's passion is research, sales, or making things, the innovations made by people working together are important to vehicles, keep people safe in and around vehicles, and have a good effect on the world as a whole.
The Bosch Group said that it is a top provider of technology and services around the world. They said that by December 31, 2022, they would have about 421,300 employees around the world and make 88,2 billion euros in sales. They split their business into four areas: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.
The Bosch Group says that they are a leading provider of Internet of Things (IoT) solutions, with innovative goods for smart homes, Industry 4.0, and connected mobility. They talked about their vision of sustainable, safe, and fun mobility by using their expertise in sensor technology, software, services, and their own IoT cloud to provide customers with connected solutions across different areas. Their main goal is to make it easier for people to live connected lives with the help of goods and services that use artificial intelligence (AI) or were made with its help. The Bosch Group wants to improve people's lives all over the world by making new goods and services that get people excited. They said that their plan was to make technology that was "invented for life."
Robert Bosch GmbH and about 470 subsidiary and regional companies in more than 60 countries make up the Bosch Group. With more than 400 sites, their global network, which includes sales and service partners, covers almost every country in the world. They were proud to say that since the beginning of the first quarter of 2020, all of their activities have been carbon neutral. The company's future growth is based on its ability to come up with new ideas. Around 85,500 employees, including close to 44,000 software engineers, work in research and development at 136 sites around the world.
HARMAN said that for more than 70 years, they have been one of the biggest and most successful straight importers of creative parts. They said that they were a Preciosa Crystal Authorised Partner and a Preciosa Ornela Traditional Czech Glass Beads Authorised Distributor. HARMAN also pointed out that they were part of a small group of sellers that Swarovski trusted to show off their best crystals.
They said they serve a wide range of industries, such as internet resellers, bead and craft stores, Native American craft, couture, jewellery designers, accessories, bridal and wedding, skating, competitive and ballroom dance, western wear, equine show clothes, and people working on crystallising projects, among others.
HARMAN said that they wanted to be the best place to get beads, diamonds, and other embellishments. They asked customers to go to their website and see for themselves why designers, manufacturers, and resellers always say that their products are the best and that they have the best customer service in the business.
NXP said that as the world leader in secure connectivity solutions for embedded applications, they are driving semiconductor innovation in areas like automotive, industrial & IoT, mobile, and communication infrastructure. They said that their headquarters were in Eindhoven, Netherlands, and that they were present in more than 30 countries around the world. NXP has one of its biggest research and development design centres in India. It has more than 2,500 engineers working in Noida, Bangalore, Hyderabad, and Pune.
NXP says that their experts in India are working on cutting-edge technologies and coming up with new ways to do things in all of their business lines, including Advanced Analogue, Automotive Processing, Connectivity & Security, Edge Processing, and Radio Frequency Processing. People around the world think that the NXP India team is one of the most creative.
NXP talked about how they have been in India for more than 50 years, starting with a Sales and Marketing office in 1969 and then growing into a full Centre of Excellence. This centre works on IC design, IP design, software development, and customer applications. In conclusion, NXP Semiconductors wants to create secure links for a smarter world by developing solutions that make life easier, better, and safer.
Major Market Segments Covered in Connected Automotive Industry Research:
- Original Equipment Manufacturer (OEM)
- Safety and Security
- Remote Control and Assistance
Global Connected Automotive Market Regional Insights
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
In conclusion, the market for cars that are tied to the internet is growing and changing in a big way. Putting new technologies and ways to connect to the internet in cars is changing the automotive business. Several services, such as telematics, infotainment, safety and security, and remote control and help, are what drive the market.
Telematics services let you track your vehicle, find out what's wrong with it, get maintenance reminders, and keep an eye on it from afar. This improves the general efficiency and performance of your vehicle. Infotainment services give entertainment features, navigation, real-time traffic information, and streaming, which makes the driving experience better for passengers. Safety and security services try to make drivers and passengers safer by giving them things like emergency help, ways to avoid accidents, and ways to find a stolen car. Remote control and assistance services let users lock and open doors, start the engine, and change the temperature settings without being in the car.
The market is driven by the fact that more and more people want features that let them connect to the internet, that technology is getting better, and that safety and ease for drivers are becoming more important. The fact that these services are offered by automakers and aftermarket repair providers has given customers more choices. Companies that make cars, companies that make technology, and companies that provide services are the main players in the market for connected cars. These companies put a lot of money into research and development to come up with new ideas and make their connected car services better.
Overall, the market for connected cars offers a lot of chances for progress and new ideas. Integration of connectivity solutions into cars is changing the way we drive. This makes vehicles safer, more efficient, and gives drivers and passengers a seamless, connected experience.